STRATEGIC

MARKETING
MANAGEMENT
What is Strategic Marketing Management Process?

Strategic Management refers to the process

of planning, evaluating and implementing
designs to retain or to expand
the competitive advantage.

Strategic Marketing Management focuses on the

company’s mission through specific processes
to get the potential results out of
the existing marketing plans.
Role of Strategic Marketing Management

To guide the overall effort and integrate all the

activities for the growth of company.

It helps in recognising the business goals, the

competitors, the target audience and teaches how to
reach them and evaluate success.

It gives directions to the organizational activities and

help to update the reflected changes in business,
customers, and competition on regular basis.
A strategic marketing planning process
Providing a clear map of your company’s goals and how to achieve them.

Getting all stakeholders to share a common goal and a have a common understanding of your company’s

opportunities and challenges.

A strategic
marketing Identifying and meeting customer needs with the right products in the right places.

planning process
helps with:
Growing your market share and product lines, leading to more revenue.

Enabling smaller companies to compete with bigger firms.

Kodak,
MARKET FAILURE
A technology company that dominated the photographic film market during most of the 20th century. T
he company blew its chance to lead the digital photography revolution as they were in denial for too lo
ng.

• Steve Sasson, the Kodak engineer, actually invented the first digital camera back in 1975.
• “But it was filmless photography, The leaders of Kodak failed to see digital photography as a disrup
tive technology.
• developed the world’s first consumer digital camera but we could not get approval to launch or sell i
t because of fear of the effects on the film market.”
• The management was so focused on the film success that they missed the digital revolution after st
arting it. Kodak filed for bankruptcy in 2012. The Kodak failure surprised many.

Nokia - One highly successful company that failed

Nokia, a company founded in Finland was the first to create a cellular network in the world. In the late 1990s and
early 2000s, Nokia was the global leader in mobile phones. With the arrival of the Internet, other mobile companie
s started understanding how data, not voice, was the future of communication.

• Nokia didn’t grasp the concept of software and kept focusing on hardware because the management feared to
alienate current users if they changed too much.
• Nokia’s mistake was the fact that they didn’t want to lead the drastic change in user experience. This caused N
okia to develop a mess of an operating system with a bad user experience that just wasn’t a fit on the market.
• The company overestimated the strength of its brand and believed they could arrive late in the smartphone ga
me and succeed.
• In 2008 Nokia finally made the decision to compete with Android, but it was too late. Their products weren’t co
mpetitive enough
TOP MARKETING STRATEGIES
SUCCESSFUL MARKET LEADERS

Apple: Creating a Movement

Apple mission is “to bringing the best user experience to its customers through its innovative har
dware, software, and services.”

• The one thing that helped Apple on it’s race to the top however, was their ability to create a movement.

• They have also created the image that their products are visionary and life changing not just showcased th
eir products .

• Their marketing has also helped to convey this by making people feel as if they need their products in order
to enhance their life in some way.

• Win over consumers and have created a tribe of followers who are consistently excited about every product
and every new announcement.

• Having competing brands with similar technology like Microsoft or Samsung, it is Apple products make hea
dlines overnight.

Brand must have an innovative and awesome product that can easily be integrated into people’s lives. Know t
he way you can market product or service as something people or businesses can’t live without.
 TOP MARKETING STRATEGIES
SUCCESSFUL MARKET LEADERS

Coca-Cola: Brand Consistency

Our mission is: To refresh the world in mind, body and spirit. To inspire moments of optimism and
happiness through our brands and actions. To create value and make a difference

How is it that Coca-Cola created such a recognisable brand?

• They have kept their brand identity and product consistent for over 130 years

• Even though the company has been around for years, their logo has stayed
relatively the same and their marketing slogans and taglines have continued to promote the same message.

• Their most popular product, the infamous, iconic can of Coke, has remained relatively untouched

• Coca-Cola spends an estimated $4.3 billion on marketing and advertising every year.

The mistake that many business owners and marketers seem to make is a lack of consistency when it comes t
o their marketing and brand development.
 •Confusing Strategy with Tactics
•Strategy may be a larger goal, such as increasing your market share
whereas Tactics are the action steps, such as lowering your prices, so
more people buy your product. Both is required for successful plan .

•Lack of Resources
Challenges for • It will help you identify the resources you have and the best way
to put them to work for the good of the company.
Businesses

Assumptions About Your Customers

Sometimes the audience changes, and your planning process
should include steps for adjusting to the evolving tastes of
consume
 References
Bizfluent. 2019. Strategic Marketing Management Definition | Bizfluent. [ONLINE] Available at: https://bizfluent.co
m/info-8186633-strategic-marketing-management-definition.html. [Accessed 20 October 2019].

Cleverism. 2019. The Strategic Marketing Process: A Complete Guide | Cleverism. [ONLINE] Available at: https://
www.cleverism.com/strategic-marketing-process-complete-guide/. [Accessed 20 October 2019].

Smartsheet. 2019. Here’s How the Marketing Process Works | Smartsheet. [ONLINE] Available at: https://www.sm
artsheet.com/strategic-marketing-processes-and-planning. [Accessed 20 October 2019].

valuer. 2019. 50 examples of corporations that failed to innovate. [ONLINE] Available at: https://valuer.ai/blog/50-e
xamples-of-corporations-that-failed-to-innovate-and-missed-their-chance/. [Accessed 22 October 2019].

King Kong. 2019. 6 Top Marketing Strategies from Fortune 500 Companies - King Kong. [ONLINE] Available at: htt
ps://kingkong.com.au/6-top-marketing-strategies-from-fortune-500-companies/. [Accessed 22 October 2019].
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